61 Young Street Active Save Request In-Person Tour Request Virtual Tour
Hamilton,ON L8N 1V1
Key Details
Property Type Commercial
Sub Type Mixed,Building and Land
Listing Status Active
Purchase Type For Sale
Square Footage 2,920 sqft
Price per Sqft $280
MLS Listing ID 40720359
Abv Grd Liv Area 2,920
Originating Board Hamilton - Burlington
Annual Tax Amount $8,538
Property Sub-Type Mixed,Building and Land
Lot Depth 67.0
Lot Front 22.75
Property Description
This high-exposure corner property offers a low-maintenance investment with strong returns. With two spacious 1-bed apartments on the upper two floors and an established restaurant on the main floor, this high-visibility, high-demand location benefits from immediate proximity to the GO Station, public transit, St. Joseph's Hospital, and multiple new residential developments. The second floor apartment is tenanted until September, and the third floor apartment has been left vacant for the sale process; having also been recently updated with new windows. Despite all rents being below market value, this property is being offered at a 6.5% cap rate (once 2nd floor is tenanted). Once fully tenanted at market rates, this should be closer to an 8% cap! This is an excellent opportunity to acquire an affordable investment property in the heart of Hamilton's thriving southern downtown area!
Location
Province ON
County Hamilton
Area 14 - Hamilton Centre
Zoning C5 Mixed Use Medium Density
Direction Situated on the northwest corner of Young Street and John Street South
Rooms
Basement Full
Kitchen 0
Interior
Fireplace No
Exterior
Lot Frontage 22.75
Lot Depth 67.0
Garage No
Building
Lot Description City Lot,High Traffic Area,Hospital,Public Transit,Visual Exposure
Faces Situated on the northwest corner of Young Street and John Street South
Story 3
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 3
New Construction No
Others
Senior Community false
Tax ID 171730021
Ownership Freehold/None